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RMB stock trading backed

Secretary for Financial Services & the Treasury Christopher Hui today expressed his gratitude to various listed issuers in Hong Kong for their support to the proposal of setting up a renminbi (RMB) stock trading counter.   Mr Hui stated that further to the help rendered by the Legislative Council Panel on Financial Affairs regarding the Government's proposed measures to promote the issuance and trading of RMB stocks in Hong Kong and enhance the trading mechanism, a number of listed issuers have also backed the proposal.   Such listed issuers will actively explore the feasibility of setting up a new RMB trading counter for their issued shares.   Mr Hui explained that listed issuers who indicated their support today include Hang Seng Index constituent stocks with promising turnover.   “Their participation is a vote of confidence to the development of RMB securities in Hong Kong, which will be conducive to our promotion work to other issuers, enabling Hong Kong to graduall

New quarantine hotel list issued

A total of 31 hotels will provide about 8,500 rooms under the fourth cycle of the Designated Quarantine Hotel Scheme, the Government announced today.   It issued letters to about 2,000 hotels with valid hotel or guesthouse licences on May 4 to invite applications for enlisting as designated quarantine hotels in the fourth cycle and 48 hotels applied.   Upon assessment, 31 hotels, including 30 in the third cycle, were shortlisted to provide about 8,500 rooms of various types and rates for selection by people arriving in Hong Kong from places outside China.   The contract period is from June 20 to August 31.   The Government continues to provide more hotels offering lower room rates in this new cycle after considering the market demand. The number of hotels offering room rates at $500 or below will increase from 13 to 17.   The first and second cycles of the scheme each involving 36 hotels ended on February 19 and April 20. There are 30 hotels in the third cycle, which will end on June 19.
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